Nexus Mutual is a decentralized insurance protocol that offers protection from smart contract bugs or defaults. The protocol is based on Ethereum and is highly community-driven.
The digital asset has its own native token, which has garnered impressive traction in the market. In this guide, we will walk you through how to buy Nexus Mutual in a simplified manner and from the comfort of your home.
Contents
- 1 How to Buy Nexus Mutual—Quickfire Walkthrough to Buy NXM Tokens in Less Than 10 minutes
- 2 How to Buy Nexus Mutual – Full Step-By-Step Walkthrough
- 3 Step 4: Sell Nexus Mutual
- 4 Where to Buy Nexus Mutual Online?
- 5 Ways to Buy Nexus Mutual Tokens
- 6 Should I Buy Nexus Mutual?
- 7 Risks of Buying NXM Tokens
- 8 Best Nexus Mutual Wallets
- 9 How To Buy Nexus Mutual - Bottom Line
- 10 Buy Nexus Mutual Now via Pancakeswap
- 11 FAQs
- 12 How much is Nexus Mutual?
- 13 Is Nexus Mutual a good buy?
- 14 What is the minimum Nexus Mutual tokens you can buy?
- 15 What is the Nexus Mutual all-time high?
- 16 How do you buy Nexus Mutual using a debit card?
- 17 How many Nexus Mutual tokens are there?
How to Buy Nexus Mutual—Quickfire Walkthrough to Buy NXM Tokens in Less Than 10 minutes
Nexus Mutual is a Defi coin. As such, one of the best ways to buy the asset is through a DEX like Pancakeswap. This exchange offers a seamless experience and doesn’t involve a third party.
Following the steps below, you will understand how to buy Nexus Mutual in less than 10 minutes.
- Step 1: Download Trust Wallet: This wallet is the most suitable app to use with Pancakeswap. It’s equally available for both iOS and Android.
- Step 2: Search for Nexus Mutual: The top right corner of the Trust Wallet has a search bar you can use to look up the coin. Input “Nexus Mutual” and search.
- Step 3: Deposit Crypto Assets in Your Wallet: You need to fund your wallet before you can purchase NXM. There are two options available. You may decide to buy some cryptocurrency with your debit/credit card or transfer from an external source.
- Step 4: Connect to Pancakeswap: At the bottom of your wallet app is an icon for ‘DApps.’ Click on it, and you’ll see the options available. Select Pancakeswap and click connect.
- Step 5: Buy Nexus Mutual: Once you have connected your wallet successfully, you can now buy Nexus Mutual. There is an ‘Exchange’ icon on the screen that provides a ‘From’ option, where you will choose the token to swap. You also have a tab for ‘To,’ where you will select NXM. Following that, enter the number of Nexus Mutual tokens you want and hit ‘Swap’ to complete the trade.
Seconds after a successful swap, the NXM tokens will appear in your Trust Wallet and will remain there until you choose to move them elsewhere. The best part is that you can also use your Trust Wallet to sell the Nexus Mutual tokens if you so desire.
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
How to Buy Nexus Mutual – Full Step-By-Step Walkthrough
The quickfire guide will appear sufficient for someone who’s already familiar with swapping cryptocurrencies. However, if you’re new to this, you will need a more in-depth guide. Therefore, below is a comprehensive guide on how to buy Nexus Mutual.
Step 1: Download Trust Wallet
Pancakeswap is a decentralized app, or ‘DApp’ used to buy Nexus Mutual. However, like every other DApp, you need a crypto wallet to operate it. This is where Trust Wallet comes in.
Trust Wallet is one of the most suitable wallets for decentralized exchanges. Although there are numerous options, Trust Wallet stands out owing to its credibility, as evidenced in the support it has from Binance. Additionally, the wallet is easy to use, making it suitable for beginners and pros.
Trust Wallet is available on both Android and iOS. After installing the app, set up your login details accordingly and choose a strong PIN.
You will also be given a 12-word passphrase that you can use to retrieve your account if you forget your pin or lose your phone. Be sure to keep it safe.
Step 2: Deposit Crypto Assets in Your Wallet
Before you can make any transaction on your Trust Wallet, you have to fund it. There are two ways to go about this.
Transfer Crypto From an External Wallet
You can transfer crypto from an external source, but this is only possible if you have a wallet that is already funded. If that’s the case, the transfer process is straightforward:
- Locate the ‘Receive’ bar in your Trust Wallet. There are many cryptocurrency options available. Choose the one you want to transfer.
- A wallet address will be displayed on the screen.
- Copy the address. Note that copying it directly is better than typing because it contains a series of letters and numbers that can easily get mixed up.
- Open the source wallet of the digital assets and paste the address you copied. Next, indicate the amount you intend to transfer and complete the transaction.
The cryptocurrency you have transferred will reflect in your Trust Wallet within a few minutes.
Buy Crypto With Your Credit/Debit Card
Your other option is to buy crypto with a credit/debit card. It’s the go-to option if you don’t have cryptocurrency in another wallet.
One of the perks of using Trust Wallet is that it allows you to buy digital assets using your credit/debit card. Here are the steps to follow:
- At the top part of your Trust Wallet, you’ll locate the “Buy” option. Click on it.
- Trust Wallet provides you with a list of cryptocurrencies you can buy with your card.
- Although you have a wide list, select BNB or any other established coin.
- Going forward, you will need to verify your identity because you are buying crypto with fiat money. You’ll need to verify your identity through the Know Your Customer (KYC) process.
- You have to provide a government-issued identification card like a passport or driver’s license.
Following the completion of the transaction, the coin will reflect in your wallet.
Step 3: How to Buy Nexus Mutual Through Pancakeswap
Now that you have successfully deposited cryptocurrency in your wallet, you can proceed to buy Nexus Mutual from Pancakeswap. You will have to connect your Trust Wallet to Pancakeswap if you haven’t already. Once you do, you can then swap your cryptocurrency for the equivalent of the Nexus Mutual you intend to buy.
Here are the steps to follow:
- On the Pancakeswap page, locate ‘DEX’ and hit the ‘Swap’ option.
- You will find the ‘You Pay’ icon, which is where you will select the token to use for the exchange.
- Input the amount you want. Note that the cryptocurrency to use is the one you bought in step 2.
- Look out for the ‘You Get’ icon and choose Nexus Mutual.
- Trust Wallet will notify you of the amount of NXM tokens equivalent to what you have selected.
- Confirm the transaction by clicking ‘Swap.’
Step 4: Sell Nexus Mutual
Knowing how to buy your Nexus Mutual is just as important as understanding how to sell the digital asset. There are two major ways you can do this:
- You can decide to swap your Nexus Mutual for another cryptocurrency using Pancakeswap. All you will need here is to follow the Nexus Mutual buying process above but in reverse. This means you will have to choose NXM in the ‘You Pay’ section.
- Alternatively, you can sell your Nexus Mutual for fiat money. For this, you’ll need a third-party exchange.
Noteworthy, when you sell into fiat, you’ll need to complete a KYC process.
Where to Buy Nexus Mutual Online?
Nexus Mutual has been one of the leading decentralized insurance protocols since it was established in May 2019. It has a market cap of over $521 million – as of mid-2021. Buying this coin involves a pretty straightforward set of steps. But due to its popularity in the market, there are several exchanges for you to buy the asset.
However, the most suitable platform for buying your Nexus Mutual tokens is Pancakeswap. There are numerous reasons for this, and we’ll inform you of a few of them in the section below.
Pancakeswap – Buy NXM Using a Decentralized Exchange
The main reason DeFi exists is to remove the need for an intermediary in the cryptocurrency market. Therefore, it is suitable to use a DEX like Pancakeswap because it blends seamlessly. Additionally, Pancakeswap has great security to ensure the safety of your assets. This is in addition to the simple user interface, making it suitable for beginners.
Furthermore, Pancakeswap offers you access to a wide range of DeFi coin. Whether you’re looking to buy Nexus Mutual or any other digital token, the exchange remains the right place. This is coupled with the fact that the exchange is suitable for private trading. As such, you can continue to buy and sell without compromising your anonymity.
Pancakeswap also allows you to earn money off your idle coins. For every coin you hold, it contributes to the platform’s liquidity pool, making you eligible for rewards. Additionally, you can also stake to get more returns on your digital assets. Yet, this doesn’t affect the extra money you can make by leveraging farming and other available options.
One other thing you don’t have to contend with when you use Pancakeswap is high transaction fees. Transactions on this exchange come at a low cost and yet a fast speed. To get started, you will need to obtain a suitable wallet like Trust Wallet. Following that, you can either have cryptocurrency transferred into the wallet or buy through a debit/credit card.
Pros:
- Exchange digital currencies in a decentralized manner
- No requirement to use a third party when buying and selling cryptocurrency
- Supports a sizable number of digital tokens
- Allows you to earn interest on your idle digital assets
- Sufficient levels of liquidity – even on smaller tokens
- Prediction and lottery games
Cons:
- Might appear daunting at first glance for newbies
- Does not support fiat payments directly
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
Ways to Buy Nexus Mutual Tokens
As with buying any other cryptocurrency, there are two major ways you can buy Nexus Mutual.
Here you go:
Buy Nexus Mutual Using Cryptocurrency
Using cryptocurrency is one of the smoothest ways to buy Nexus Mutual. However, you’ll need an external wallet from where you can transfer the cryptocurrency into your Trust Wallet for this to happen. Once you do that, you can proceed to connect your Trust Wallet to Pancakeswap.
After completing the process, you can buy your NXM tokens by following the steps mentioned earlier.
Buy Nexus Mutual Using a Credit/Debit Card
You can also use a credit or debit card to buy cryptocurrency directly from your Trust Wallet. You will, however, need to complete the KYC process for this method.
After your verification, you can proceed to choose your desired token and the amount you intend to buy. When this is done, you may follow the steps we mentioned earlier to buy NXM tokens using Pancakeswap.
Should I Buy Nexus Mutual?
You won't complete the how to buy Nexus Mutual process without knowing when to time the market. However, this requires care, as you have to do your own research.
Therefore, your buying decision should be based on informed premises. But because this can sometimes be challenging, we have provided some important considerations to make below.
Growth Trajectory
Nexus Mutual did not experience its first all-time low (ATL) until July 23, 2020, more than a year after it was created. At its ATL, the coin was valued at $6. Barely a year later, precisely on May 12, 2021, it reached a its all-time high of $166. As of the time of writing in mid-July 2021, the coin is priced at just over $72.
Anyone who bought the coin at its all-time low of $6 would have enjoyed a 950% increase when the asset breached its peak price. Nexus Mutual’s trajectory reflects that it has had a good bull run in the market. Yet, although it could be a good buy, you will need to research adequately before proceeding.
Ecosystem Protection and Transparency
Smart contracts are a core part of DeFi projects. To protect coin owners, Nexus Mutual created a product named Smart Contract Cover. The essence of this is to ensure adequate protection from unintended or purposely wrong usage of smart contract code.
- The product operates to protect NXM owners from material loss, thereby securing users from mischievous owners who could exploit the vulnerability of codes.
- For this product, each Smart Contract Cover has a fixed amount. Thus, where a user files a claim, and the community approves it, the fixed amount shall be the relevant payout.
- By implication, the payout might not be equal to the loss, but it is valued based on stake size at the time of buying the coverage.
- One of the upsides to buying Nexus Mutual is the transparency of the protocol.
- The community has a stake in deciding whether an insurance claim should be settled. This places some level of confidence in the project's credibility.
Additionally, information pieces such as the capitalization ratio, history, token price, capital metrics, and results of claims assessments are available for all to see.
Decentralized Claim Assessment
With traditional insurance companies, claim assessment is approved by a central authority. However, on Nexus Mutual, claims are assessed through decentralized voting.
All mutual members act as assessors and decide whether to approve or reject a claim through their voting. This is impressive because the decentralized decision is final. It cannot be escalated to any higher authority, making the process completely inclusive and final. A system of this nature makes for flexibility and high levels of discretion.
Nexus Mutual Price Prediction
You have to tread with caution when you are dealing with cryptocurrencies. They are very volatile and can be affected by numerous factors. As such, take with a pinch of salt any Nexus Mutual price predictions you see online.
When you are looking to buy any cryptocurrency token, be sure to carry out adequate research yourself before diving in. That way, you can rest assured you’re making an informed decision.
Risks of Buying NXM Tokens
It’s crucial to understand obtainable risks when learning how to buy Nexus Mutual. As with typical financial decisions, there are always risks involved in cryptocurrency trading. However, you can mitigate your risks through the following ways:
- Carry Out Adequate Research: Extensive research certainly goes a long way in mitigating losses, because you have the necessary information on the coin. You get to know the historical data, all-time high, and price alterations.
- Diversify: There are numerous tokens worthy of consideration. As such, you can diversify your Nexus Mutual investment by looking at other popular DeFi coin. This is a smart way to hedge your risks.
Best Nexus Mutual Wallets
Whether you are buying a large or small quantity of NXM tokens, you will need a safe place to store them. There are a few things to consider when choosing the best wallet, and some of these are convenience and security.
Here are the best Nexus Mutual wallets you can use to store your tokens:
Trust Wallet—Best Hardware Nexus Mutual Wallet
Trust Wallet is the most suitable online wallet for your NXM tokens. It's secure and easily accessible. It also helps that it is affiliated with Binance, one of the world's safest and trusted cryptocurrency platforms.
Additionally, Trust Wallet has backup options. Here, if you lose your mobile device or forget your PIN, you can simply enter your 12-word passphrase, and you'll easily retrieve your wallet.
Ledger Nano — Best Nexus Mutual Wallet for Convenience
You may also opt to store your NXM tokens in Ledger Nano. This is essentially a hardware wallet, shaped like a small storage drive, which makes it quite portable to move around.
You need to physically connect it to your mobile phone or laptop before you can transfer your Nexus Mutual. This wallet is one of the most secure NXM storage options available.
Atomic Wallet
Atomic wallet is available on both desktop and mobile devices. It’s a convenient method of storing cryptocurrency because of its online availability.
The atomic wallet currently caters to numerous crypto tokens, including Nexus Mutual. You can also download it on Android and iOS.
How To Buy Nexus Mutual - Bottom Line
Nexus Mutual is a leading DeFi coin. You may want to invest in this digital asset for different reasons. With its growth trajectory, it could be a good buy. However, you should always premise your investment decision on adequate research.
To conclude, we have taken you through how to buy Nexus Mutual in great detail. Now, you can do so from the comfort of your home. All you need to do is get Pancakeswap and Trust Wallet to get started.
Buy Nexus Mutual Now via Pancakeswap
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
FAQs
Nexus Mutual, just like every other coin, is quite volatile. This means its price can change at any point. As of mid-July, the coin is worth just over $72.
Owing to market value and its trajectory, Nexus Mutual could be a good buy. However, always ensure to do your research before going ahead.
Like other cryptocurrency tokens, you can buy NXM in fractions, which means you can purchase half of one unit or even less.
On May 12, 2021, NXM reached its all-time high of $166.
Here’s how you can buy NXM with your debit/credit card. First, you need a wallet. The most suitable one to get is Trust Wallet. Next, buy an established cryptocurrency, and proceed to swap it for Nexus Mutual on Pancakeswap.
There are just over 6 million NXM tokens in circulation. The total supply is over 6.9 million. The coin has a market cap of over $460 million as of mid 2021. How much is Nexus Mutual?
Is Nexus Mutual a good buy?
What is the minimum Nexus Mutual tokens you can buy?
What is the Nexus Mutual all-time high?
How do you buy Nexus Mutual using a debit card?
How many Nexus Mutual tokens are there?
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